Ares Commercial Real Estate Corp (ACRE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in Ares Commercial Real Estate Corp (NYSE:ACRE) by 4.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,810 shares of the real estate investment trust’s stock after selling 6,001 shares during the period. Bank of New York Mellon Corp owned 0.47% of Ares Commercial Real Estate worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC increased its position in Ares Commercial Real Estate by 194.6% during the 2nd quarter. Acadian Asset Management LLC now owns 450,087 shares of the real estate investment trust’s stock worth $6,217,000 after buying an additional 297,287 shares during the period. Dupont Capital Management Corp bought a new position in Ares Commercial Real Estate during the 2nd quarter worth $688,000. Boston Partners increased its position in Ares Commercial Real Estate by 2.0% during the 2nd quarter. Boston Partners now owns 2,330,287 shares of the real estate investment trust’s stock worth $32,181,000 after buying an additional 45,603 shares during the period. Telemus Capital LLC increased its position in Ares Commercial Real Estate by 5.2% during the 2nd quarter. Telemus Capital LLC now owns 582,995 shares of the real estate investment trust’s stock worth $8,051,000 after buying an additional 28,870 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in Ares Commercial Real Estate during the 1st quarter worth $248,000. Institutional investors and hedge funds own 62.75% of the company’s stock.

Several analysts have recently issued reports on ACRE shares. BTIG Research started coverage on Ares Commercial Real Estate in a report on Monday, October 8th. They set a “buy” rating and a $15.00 target price on the stock. Zacks Investment Research raised Ares Commercial Real Estate from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, September 26th. Credit Suisse Group increased their target price on Ares Commercial Real Estate from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Tuesday, August 21st. JMP Securities increased their target price on Ares Commercial Real Estate from $14.50 to $15.00 and gave the stock a “market outperform” rating in a report on Monday, July 30th. Finally, Raymond James started coverage on Ares Commercial Real Estate in a report on Monday, July 23rd. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.75.

ACRE opened at $13.53 on Friday. The firm has a market cap of $400.92 million, a PE ratio of 12.19 and a beta of 0.56. Ares Commercial Real Estate Corp has a 52-week low of $11.96 and a 52-week high of $14.77.

Ares Commercial Real Estate (NYSE:ACRE) last released its earnings results on Thursday, July 26th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $29.60 million for the quarter, compared to analyst estimates of $27.30 million. Ares Commercial Real Estate had a return on equity of 8.85% and a net margin of 32.36%. Research analysts anticipate that Ares Commercial Real Estate Corp will post 1.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 16th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.29 per share. This is a positive change from Ares Commercial Real Estate’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 8.57%. The ex-dividend date is Thursday, September 27th. Ares Commercial Real Estate’s dividend payout ratio is 104.50%.

Ares Commercial Real Estate Company Profile

Ares Commercial Real Estate Corporation, a specialty finance company, originates and invests in commercial real estate loans and related investments in the United States. It provides a range of financing solutions for the owners, operators, and sponsors of commercial real estate (CRE) properties. The company originates senior mortgage loans, subordinate debt products, mezzanine loans, real estate preferred equity investments, and other CRE investments.

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Institutional Ownership by Quarter for Ares Commercial Real Estate (NYSE:ACRE)

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